Household debt falls but Government levels swell
IRISH households are continuing to reduce their levels of debt but Government levels have swelled to their highest levels ever, new figures show.
The total indebtedness of households works out at just over €41,000 per capital or a total of €185bn, according to the latest figures from the Central Bank for the first quarter of last year.
However, the net worth of Irish households far exceeds what is owed and totals €457bn.
Household debt peaked at €212.2bn in 2008.
However, Government debt levels have grown to €175.4bn in the same period – 20pc of what is owed is to the EU and IMF through the bailout programme and other loans.